The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Pickles- however we know that Duferco sold a few million at the beginning of the year to take them just below the 3% TR1 reporting threshold. Personally I cannot see how this is pure coincidence and I believe they are selling out to realise a large short term profit based on the 12p strike price. Just my opinion.
As an aside, great to see Pdub posting more regularly - best wishes to you.
Further evidence of rises being reported on Argus. Chinese prices up 1.7% to $35.85 on 3rd March.
https://www.argusmedia.com/metals-platform/price/assessment/ferro-vanadium-80-v-fob-china-PA00144230000
Hades, you also need to factor in corporation tax @ 28%, as a P/E ratio is used on “post tax earnings”. Also the production split of Vametco / Vanchem is likely to be in the ratio of 3:1 (3,300:1,100 tonnes).
My estimates suggest a $1 rise adds approximately $1.95m post tax annual profit, after accounting for additional royalties. On a conversion rate of US$1.40, that equates to £1.4m post tax profit.
Using your P/E of 10 and 1.192 billion share currently in issue, this in theory should add approximately 1.2p to the SP for every $ increase in V price.
I hope that helps.
Posted this morning...
https://twitter.com/bigbitenow/status/1366651967884455936?s=21
@RMR - from the annual accounts, WK mine revenues from 2018 were derived from sales of the following metals:
Platinum - 112,597 g
Iridium - 5,416 g
Palladium - 418 g
Rhodium - 654 g
Gold - 994 g
Total 120,079 g.
Therefore suggests Rhodium represents only a small fraction (0.5%) of the basket.
On that basis I am not expecting there to be significant amounts in the ground. It is $27,000/oz for a reason- it’s as rare as rocking horse sh*t!
Happy to hear any alternative
The Public Sector needs a complete overhaul. Outside of frontline emergency services and NHS there is so much waste.
Too many “non-jobs”, our of reality high salaries, early retirements and gold plated final salary pensions schemes, which the Private Sector is paying for.
High rates of sickness and unchallenged absenteeism across a number of areas, with public sector workers being almost untouchable. The private sector drives our economy and it seems to be the tail wagging the dog.
Agree with that Halespur.
Also, any success with BE tenders will be extremely difficult for the Market to price it in to the SP. Contract profitability will be difficult/impossible to assess and the business model with VRFB rental, income streams etc. is so far removed from the mining business. How will the Market value the blended mix of those different businesses into a single Share price?
Based on 2021 BMN guidance and mine split between Vametco and Vanchem, every dollar increase in V should add approximately £1.8m attributable post tax profits to the Group.
On a P/E of 10 (conservative given steep growth phase), this would add £18m to Market Cap for every dollar increase. This equates to approximately 1.5p on the SP for every $ increase.
Very bullish uptrend in V with very tight supply. This is the moment we have been waiting for!
GLA
Really surprised at the level of negativity here last night and again this morning.
V prices are going vertical at the moment after being in the doldrums for so long. This is the moment we have been waiting for. There appears to be a bit of the usual lag, but this current wave of V price rises looks as though it will move up into the $40-$50 range very quickly.
I am 100% confident that the SP will follow.
GLA